The Small Business Owner’s Guide to Using Data Analytics

Data analytics can seem like a confusing concept at first – but this is an area that every entrepreneur should be getting familiar with. By learning more about data analytics, you can advance your business and make well-reasoned decisions for your company. Working with an agency like eSEOspace can help you incorporate data analytics into your business strategy. Here are a few ways that you can use data analytics to drive new business and boost your revenue.

 

Risk Management

Data analytics are absolutely indispensable when it comes to risk management for small businesses. It’s all too easy to assume that risk management is only a concern for large enterprises, but even if you are your company’s only employee, you need to take steps to mitigate risks within your operations. With the help of an IT support professional who specializes in cybersecurity, you can leverage data collection, aggregation, and analysis capabilities to conduct essential security functions. Through these functions, you’ll be able to identify, examine, and minimize cybersecurity threats.

No matter how strong your cybersecurity protections are, you need to improve your cyber security and have a recovery plan set up so that your company can quickly bounce back if an attacker does manage to get through. What should your recovery plan address? You’ll need to include directives for which applications you’ll have to recover first, time objectives for getting programs back online, and the individuals who will carry out the recovery efforts.

 

Customer Acquisition and Retention

Acquiring and retaining customers is always at the core of your business strategy. If you’re not consistently bringing in new customers while building loyalty amongst your current customer base, you won’t be able to increase your long-term revenue. The good news? You can use data analytics to establish a solid customer acquisition and retention strategy.

By using customer relationship management software, you can analyze all of your sales and marketing leads within one program. You can figure out which initiatives turned customers from interested parties into buyers, and which actions helped motivate past customers to make repeat purchases. You don’t want to play guessing games when it comes to your customer acquisition and retention strategy, and data analytics allows you to work with concrete statistics as you determine your path forward.

 

Search Engine Optimization

Today, practically every entrepreneur has heard about search engine optimization – but do you know how to make it work for your business? You might still be guessing at the keywords your customers are looking for. If you want to enhance your SEO strategy, applying data analytics is key. Search Engine Watch recommends using data sources directly from search engines, utilizing a program that allows you to create visuals for your SEO results and applying A/B testing to analyze the success of your efforts.

 

Website Design

Did you know that data analytics can also be very useful when it comes to optimizing the design of your company website? Hubspot recommends using a website reporting tool that can track data from your site, such as visitor conversions. And if you’re investing in a major site design update, A/B testing can also be very helpful – you can run tests to analyze a particular design choice, and then run a second round of tests to identify whether or not a change has led to improved results.

On the surface, data analytics can seem complicated. But by diving into the world of data, you’ll be able to glean useful insights that you can use to set up successful business initiatives. Soon, you’ll feel confident as you build your business strategy around data analytics!

Ready to step up your data-driven marketing efforts? eSEOspace can lead the way! Schedule a consultation call through our website today!

How to Build a Website That Grows With Your Business

Will your website be able to scale with the growth of your business? If you’re not designing your website around scalability, you’re going to run into problems when your business starts attracting more customers. Ensure your website is built to meet the changing needs of your business. Not only does your website need to function effectively as traffic increases, but it should also facilitate growth through forward-thinking design principles. eSEOspace explores a few effective ways to build your business website with growth in mind.

 

Don’t Overlook Email Scalability

When people think of website scalability, they often forget about email. Your email needs to scale alongside the rest of your business. Without a scalable system, it will become increasingly difficult to manage your email contacts and initiate effective email marketing campaigns. Get in touch with an email marketing company for help establishing an effective email system that will grow with your business.

 

Improve Your Website SEO

If you want your website to actively help your business grow, you must prioritize search engine optimization (SEO). By enlisting the help of experts like eSEOspace, you can optimize your website to help it rank higher in search results, so more customers will find your solutions when seeking answers online. Keep in mind that customers typically use location-based tools when searching for products and services, so if you run a local business, pay attention to local SEO as well.

Hubspot explains that starting a blog is a great way to boost your SEO. Publishing blog articles tells Google that your website contains relevant and up-to-date answers to your customers’ questions. Plus, you can leverage on-page SEO techniques to optimize your blog content and help your website rank even higher in search results.

You can (and should) also link to your website from other social media sources. For example, by creating a Facebook ad or a blog post on another site that links back to you, you can use software to track where most of your traffic comes from. This will allow you to intelligently gauge the effectiveness of your digital marketing campaign and adjust accordingly.

 

Boost Your Website Conversions

SEO will help drive more traffic to your website, but conversion optimization will turn those visitors into paying customers. Increasing conversions is ultimately how you’ll grow your business. Attractive web design, frustration-free navigation, and influential copy are just a few key elements in any high-converting web page.

Create an eye-catching header banner on your website to build brand awareness among your website visitors. Make sure your banner includes your logo so your customers can learn to recognize your brand. Still need a logo? You can find free logo design tools online that enable you to design a professional logo without hiring a graphic designer. You just choose a template that best fits your brand and make it your own with custom text, fonts, and colors.

 

Build a Fully-Integrated System

Creating a fully-integrated tech system will make it much easier to scale your business. When all of your tech solutions are connected, you’ll be able to expand each type of software you use without disrupting your workflow. This interconnected collection of software and technology is known as an Enterprise Resources Planning (ERP) system. Make sure all of your software tools including your CRM tool, accounting system, and inventory tracking software communicate with each other seamlessly.

 

Understand Your Analytics

Evaluating your website analytics is essential for growing your business. Google Analytics is a free website tracking tool that provides robust data and interactive reports about a website’s performance. At first glance, looking at Google Analytics reports is completely overwhelming. Take advantage of online guides and videos that can walk you through this valuable tool and show you how to extract the most value from your data. For example, ExactMetrics recommends using Google Analytics data to optimize your content strategy so you can better cater to your customers’ interests.

Whether you run a local retail store or an ecommerce business that operates entirely online, your website will play a key role in the growth of your company. Make sure your website is set up to foster smooth and controlled growth. Pay attention to website scalability now and you’ll be able to avoid major headaches as your business expands.

Essential Benefits of Storytelling for SEO

At first glance, you wouldn’t think that storytelling and SEO could mix well. SEO is technical and fueled by algorithms, so you might not expect it to improve if you add a bunch of metaphors that you’ll need to tell a story into it. But as it turns out, it works out pretty well. Telling a story while using your keywords will bridge the gap between what crawler bots and your audience want to see. You’ll make your content more enjoyable for both people and Google, and you’ll get a bump on the SERPs as a prize for your efforts. To explain how that happens and how you can make the most of it, let us take you on the journey through the essential benefits of storytelling for SEO.

 

How Does Storytelling Help Your Brand?

Although we’re here to talk about SEO, you must first understand the general role of storytelling in marketing. So, let’s define a couple of terms.

 

Brand Story

A brand story could be the thing that makes or breaks your company. Good storytelling will evoke emotion in your readers and allow you to grow your home business much faster.

It’ll make your content memorable, and the audience will feel attached to it. Thanks to this connection, they’ll like your brand more, which will create loyalty and trust. They’ll see you as an authority and want to work with you.

 

Search Engine Rankings

Now, we get to the technical side of things or your SEO. Here, we’re talking about backlinks, keywords, site navigation, etc. These are the things you do not just to make your readers happy but also to please the algorithm.

If you do everything right, you’ll rank higher on the search results, and more people will click on your content. Still, good SEO isn’t a guarantee that they’ll like it. Its job is to get their attention, but you’ll need to use storytelling if you want to keep it.

 

SEO Factors You’ll Improve with Storytelling

With the basics out of our way, we can move on to explaining how it all connects. We’ll go over some essential SEO factors and tell you how you can use storytelling to improve their efficiency. Let’s dive right in.

 

Click-Through Rates

Most modern businesses are well aware that they need to work on their SEO, and it’s a good thing. However, they tend to make some typical oversights and SEO mistakes, like focusing on rank rather than CTR. As they see it, if you rank first, it means that you’re the ultimate authority, and users will click on your site.

And although the top result on the SERPs usually gets the most clicks, if people know a brand ranked in one of the lower spaces, they’ll click their link instead. And if the content they find behind that link is good, readers will come back to that site. They’ll click on it each time they see it in the search results, which will signal to Google that the site is valuable, so it’ll raise a few spots in the rankings.

As you can see, a higher CTR brings a higher rank, but it doesn’t have to be the other way around. So, work on your content and focus on providing value rather than creating something that’ll get you the top spot on the results page. Quality content will find its way to the top.

 

User Engagement

The next two benefits of storytelling for SEO we want to talk about are the bounce rate and time on page. The former checks if your visitors look at more than one of your pages and the latter measures their time on your site. Put them together, and you get a pretty good picture of how users engage with your content.

Here’s what it’s all about here. If your story is good, you’ll hook the readers from the first word, and they won’t leave your site until they read the article throughout. Moreover, they’ll want to see more from you, and they’ll browse your blog, spending more time on your site.

Of course, you don’t have to be an award-winning novelist to write a blog post that will get people to stick around. It’s enough that you find the right buttons to push and stimulate the right feelings in your readers.

 

Building Backlinks

Links leading from other sites to yours are like a seal of approval in the eyes of Google. Now, you’ll need a few backlinks to rank at all, but if you want to boost your domain authority and rank high, you’ll need them to be good. Here’s how storytelling helps.

Think about the links to other sites that you add to your content. You choose them because they’re credible sources that you believe. Well, if your storytelling is good, you’ll become that credible source other people will link to.

Other bloggers and creators will read your posts and connect with them emotionally and professionally. Then, if they feel like their audience can benefit from them, they’ll add a link to your site in one of their posts without you even asking.

Furthermore, you can also use your storytelling skills to write guest blog posts for other websites. Of course, you’ll get a chance to add a link to your site to the text, and you can make sure it’s as natural as it can be.

 

Social Triggers

Utilizing social media is one of the best ways to promote your business website, but it won’t directly impact your SEO. It’ll ensure that your audience sees the content, but you’ll only see those numbers going upwards if it resonates with them.

As far as psychology is concerned, people share things that promote their desired image. So if we think that sharing some piece of content will make us seem smarter, funnier, or nicer, we’ll happily click that button.

Create content with that in mind, and you’ll see that more and more people will tell their friends about it.

 

Conclusion

As you can see, there are plenty of benefits of storytelling for SEO. Learn their ways, and you’ll be able to connect with your audience on a whole new level. You’ll build trust and loyalty and make them feel more fond of your brand.

Meta description: Want to bring your online presence to a new level? Dive right in and see what benefits of storytelling for SEO you should know about.

How to Collect Late Payments Without Ruining Customer Relationships

Cash flow is the backbone of any business. Without cash, your daily operations will stall and, as CB Insights notes, you might be forced to suspend or close your business. The biggest threat to cash flow is late payments. Anyone can be a late payer, even the best customers. Reasons for late payment vary ranging from tax reasons to financial hardship.

eSEOspace understands the role of good marketing in boosting cash flow. In that same vein, retrieving late payments from customers without ruining the relationship is also crucial to cash flow. Continue reading to find out how.

 

The cost of late payments

In an ideal scenario where all your customers pay their invoices on time, you’d have a 100% accurate cash flow forecast all year round. Your bills would always be paid on time, and making important decisions such as whether to increase or scale back on expenses would be easy. Unfortunately, Ordermentum points out that we live in an imperfect world where late and non-payments are common business challenges.

It does not matter if the reason for a late payment is legitimate or not. When customers fail to make their payments on time, a cash flow gap, which places unnecessary stress on your business, is created. Keeping up with daily operating expenses and payroll becomes a challenge. To keep your business afloat, you may be forced to chase down late paying customers, and this may result in breaking down of relations.

To run a successful business, you have to find a balance between handling late payments and maintaining a good relationship with your customers.

 

Identify customers of concern

Identify who is paying late. Keep track of payments made and take note of any that are unpaid or paid late. These records will help you chase down late payments and decide if it’s time to cut ties with customers who are costing your business too much. Quarterly records should help you identify whether late payment is limited to a few customers or if it is a company-wide problem.

 

Understand the cause of late payment

Understanding the reason behind a customer’s late or no-payment can inform your strategy of collecting your dues and preventing late payments in the future. Common types of late-paying customers include:

  • Large corporations: These entities typically have payment schedules that differ from small and mid-sized B2B companies.
  • Unhappy customers: Dissatisfied customers are not quick or willing to make payments.
  • Customers with financial challenges: A customer may be willing but unable to pay on time due to cash flow issues.
  • Customers with no intentions of paying: It may be difficult to identify such customers until it is too late.

 

Effective follow-up strategy

Consider the following strategies when following up on payments that are past due.

  • Ask for payment: The first step is to simply ask. A late payment could be intentional but in some cases, it could be as the result of a genuine reason such as a clerical error, misplaced invoice, or forgetfulness. Send a friendly reminder shortly before and after payment is due.
  • Automate late payment reminders: Having an automated system send reminders eases your workload and saves you and your customer from losing face.
  • Use an intermediary: Before you consider legal action, use a neutral intermediary to find a solution when you’ve exhausted all other options.

 

Preventive measures

To avoid the lengthy and expensive proceedings associated with recovering late payments, you can employ the following preventive strategies:

  • Ask for payments upfront: This eliminates clients who are not serious and the need for invoicing.
  • Communicate your expectations clearly: For a mutual level of convenience, communicate all your payment details and expectations before you start working with a client. This entails writing a clear customer contract that cuts out excessive legalese and includes negotiated terms with the decision maker.
  • Suggest good tools: Some customers may be in need of digital tools to help them track their obligations. Offer to help them understand third-party apps that use a bank account balance API to provide them real-time financial information.
  • Send plenty of notices: Sending multiple copies of contracts to clients so you can be sure they have it helps keep everyone on the same page when it comes to payment schedules. You should give them a hard copy as well as send a digital copy.
  • Early payment discounts and late fees: These can be powerful motivators to encourage timely payments.

 

Bottom line   

Late payment is a challenge that can cripple your business if not addressed. Limited cash flow can hurt your business but losing customers due to aggressive payment collection methods is also not ideal. Use the strategies above to strike a balance.

eSEOspace can help your business grow using a combination of strong website design and top-notch digital marketing. Learn more by calling (805) 500-3736.

Why It Helps to Return to School Sharpen Your Business Skills

The more experience you gain in life and business, the more you realize the importance of furthering your education. When you delve deeper into a particular career or start your own business, you can hone in on your niche. Although some aspects of business might come naturally to you, there are areas that may require a deeper level of understanding. If you’re a new business owner, you might want to elevate your position in the marketplace by upskilling.

 

How To Improve Your Business Acumen

Postgraduate studies, part-time degrees, and professional organization memberships are just a few ways to improve your business acumen.

Starting a new business is time-consuming, but many programs offer courses that you can comfortably fit into your busy schedule. A solid MBA program will teach you leadership, management, and marketing skills.

If you’d like to go back to school for a degree that can help you run a business, consider the following programs:

  • Business administration. This is an all-encompassing degree that covers a multitude of business topics. Expect to learn about everything from strategic management to supply chain management, marketing, and accounting.
  • Business analytics. A degree in business analytics teaches you how to analyze big data to make informed business decisions.
  • Market research and consumer behavior are key to understanding your target market. Learn the art of creating captivating campaigns and how to engage with your audience.
  • Specializing in finance will stand you in good stead if you’re interested in investment banking or financial management or planning.
  • Information technology. Software engineering, designing databases, and understanding how the online environment works are a few key elements that you’ll learn while studying information technology.

Whether you’re studying for an MBA or undergraduate degree, getting a degree will also allow you to network with industry professionals who might be able to assist with growing your business.

 

Planning Well

Going back to school might be costly, but you can always discuss a payment plan with your institution of choice. Alternatively, you can opt to do your degree over a longer period of time, which can spread out the cost. There are also loan options such as federal loans with a low-interest rate for those who are working and studying.

There’s a lot to consider when going back to school, especially when it comes to work-life balance. Running a business is time-consuming, so it’s important to commit to your studies and plan accordingly. Set aside time in the evenings to study, and reserve your days for business activities. Another option is to enroll in online courses, as many online programs provide flexibility for busy individuals.

 

Achieving Business Success

You can achieve even greater business success if you further your studies. Not only will you learn about different aspects of business, but you’ll also increase your skills in your field of interest. Returning to school can also help you increase your scope for meeting like-minded business owners.

Grow Your Home Business With Marketing

As a home-based business, marketing is crucial to your operation. It doesn’t matter how talented you are or how high-quality your products are if no one knows about them.

Marketing is the key to building awareness and driving sales for your company. Whether you’re just starting out or you’ve been in business for years, here are some of the best ways to get more customers and grow your home-based business with marketing.

 

Effective Web Design

In the modern era, appealing web design is crucial for any home business owner. If you don’t already have a website, getting one can have a big impact on gaining additional clientele and expanding your business.

From there, you can incorporate ways to market your brand and website. To do this, you need to implement SEO (Search Engine Optimization). This will ensure that your website ranks high when people search for specific keywords used in your web design.

 

Find Your Target Audience

The first step to marketing your business is to find your target audience. Who are the people you want to sell to? What are their interests? What are they struggling with? For example, if you sell weight-loss products, your target audience might be overweight people who have a hard time sticking to diet plans.

Once you’ve identified your target audience and what they’re interested in, it’s time to get creative with your marketing strategy.

 

Build Your Brand

One of the best ways to grow your home-based business with marketing is to build your brand. It’s important to distinguish yourself from competitors and show potential customers why you’re different. You want people to associate your company with something specific.

Your goal should be to establish the same type of reputation among consumers in your industry so they’ll know what to come to you for when they need it. This will help you build loyalty among existing customers while attracting new ones who are looking for what you offer specifically.

 

Hire a Strong Team

As more companies hire remote workers to save on costs, stay competitive in the global labor market, and broaden their talent pool, the need for quality remote work management is growing.

Not only is it more difficult to communicate with remote employees when you can’t see them face-to-face, but it can also be hard to manage their progress. These are some of the struggles that you might come across if you’re a home business owner who wants to hire a strong team of remote workers.

The good news is that you can gain an edge in your management by incorporating a process map template. This helpful tool will allow you and your team to collaborate on projects so that everyone is on the same page and knows what needs to be done.

 

Communicate Effectively

It’s also imperative that you keep communication strong and ensure that your team stays productive. While your process map will certainly help in the area, you need direct, clear communication to ensure that your team knows what you expect from them.

Many businesses that should have been destined for success have failed because of a lack of communication. Make it a rule that your team must keep the channels of communication open at all times. In doing so, you stand a much greater chance of watching your home business grow and expand.

 

Looking for website, SEO, and marketing help? Check out eSEO Space’s affordable packages here!